AGI Research Bulletins
6 June 1999
Tyco and Williams May Merge
and Allied Domecq and Rank May
be History Soon
Breaking News What To Expect
| BANKING: All the British Clearers seem to be in play, especially Bank of Scotland and Barclays. | Look for Barclays to get together with Bank of Scotland and for Lloyds-TSB to compete with Citigroup for Merrill Lynch. |
| Business Services: One of America's leading business services companies seems poised to put Rudd and Carr out of their prolonged misery. | Look for other US companies to compete including at least one major US private equity fund. |
| Entertainment & Leisure:
Allied Domecq and Rank deserve to become part of groups that have built
shareholder value.
|
Whitbread deserves Allied's pubs but may not have sufficient fire power to bring home the deal and McDonalds may be the catalyst which allows venture capitalists to satisfy their appetite for a Rank break-up. |
| Petroleum: Shell may spoil BG's
plans for Enterprise Oil.
|
Look for BG to try to survive by complicating matters by entering into merger talks with US parties. |
| PROPERTY: Land Securities' months if not days are
numbered.
|
Look for John Ritblatt to work with Soros and other New York interests in breaking up this prize. |
| RETAILING: The big US retailers are growing at 15% plus whilst most Europeans are well below that level. | Walmart, Krogers, JC Penny, The GAP and other US leaders are scanning their data bases and consulting with bankers about the right way to build their European empires. |